Can someone help me determine the correct responses to this question?
Scholastic Furniture, Inc. manufactures a variety of desks, chairs, tables, and shelf units that are sold to public school systems throughout the Midwest The controller ofthe company's Desk Division is currently preparing a budget for the second quarter of the year. The following sales forecast has been made by the division's sales manager. April 10 , 000 desk-and-chair sets May 12 , 000 desk-and-chair sets June 15 , 000 desk-and-chair sets Each desk-and-chair set requires 10 board feet of pine planks and 1.5 hours of direct labor. Each set sells for $50. Pine planks cost $.50 per board foot, and the division ends each month with enough wood to cover 10 percent of the next month's production requirements. The division incurs a cost of $20 per hour for direct-labor wages and fringe benets. The division ends each month with enough nished-goods inventory to cover 20 percent of the next month's sales. Required: Complete the following budget schedules. 1. Sales budget. 2. Production budget (in sets). 3. Raw-material purchases. 4. Direct-labor budget. \fRequired 1 Required 2 Required 3 Required 4 Production budget (in sets) : April May June Sales 10,000 Add: Desired ending inventory 2,400 3,000 Total requirements 12,400 Less: Projected beginning inventory 2,000 Planned production 10,400Requiredl Required2 Required3 Required4 Raw-material purchases: (Round "Cost per board foot" to 2 decimal places.) Planned production (sets) 10,400 -_ Raw material required per set (board feet) _- _ Raw material required for production (board feet) 104,000 __ Add: Desired ending inventory of raw material, in board - feet (10% of next month's requirement) 12'600 16'000 Total requirements 116,600 __ Less: Projected beginning inventory of raw material, in 10 400 board feet (10% of current month's requirement) ' Planned purchases of raw material (board feet) 106,200 __ Cost per board foot $ 0.50 - - Planned purchases of raw material (dollars) $ 53,100 _ Required 1 Required 2 Required 3 Required 4 Direct-labor budget: (Round "Direct labor hours per set" to 1 decimal place.) Planned production (sets) 10,400 - - Planned direct-labor cost $ 312,000 _
